Kesler Norman & Wride LLC Grows Position in Eli Lilly and Company (NYSE:LLY)

Kesler Norman & Wride LLC increased its position in Eli Lilly and Company (NYSE:LLY) by 313.4% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,985 shares of the company’s stock after purchasing an additional 2,263 shares during the quarter. Kesler Norman & Wride LLC’s holdings in Eli Lilly and Company were worth $2,322,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Scotia Capital Inc. raised its stake in Eli Lilly and Company by 16.3% during the third quarter. Scotia Capital Inc. now owns 43,375 shares of the company’s stock valued at $23,298,000 after buying an additional 6,087 shares during the last quarter. Baker Avenue Asset Management LP raised its stake in Eli Lilly and Company by 416.3% during the third quarter. Baker Avenue Asset Management LP now owns 11,695 shares of the company’s stock valued at $6,282,000 after buying an additional 9,430 shares during the last quarter. Old North State Trust LLC raised its stake in Eli Lilly and Company by 0.3% during the third quarter. Old North State Trust LLC now owns 7,397 shares of the company’s stock valued at $3,973,000 after buying an additional 25 shares during the last quarter. Adalta Capital Management LLC raised its stake in Eli Lilly and Company by 33.0% during the third quarter. Adalta Capital Management LLC now owns 645 shares of the company’s stock valued at $346,000 after buying an additional 160 shares during the last quarter. Finally, KB Financial Partners LLC raised its stake in Eli Lilly and Company by 23.7% during the third quarter. KB Financial Partners LLC now owns 219 shares of the company’s stock valued at $118,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 82.53% of the company’s stock.

Eli Lilly and Company Stock Performance

NYSE LLY traded down $8.61 on Thursday, hitting $898.10. 3,078,367 shares of the company traded hands, compared to its average volume of 2,667,176. The company has a market capitalization of $853.56 billion, a price-to-earnings ratio of 132.27, a P/E/G ratio of 1.98 and a beta of 0.41. The company has a current ratio of 1.35, a quick ratio of 1.03 and a debt-to-equity ratio of 1.90. The business’s 50 day moving average price is $824.60 and its 200-day moving average price is $746.69. Eli Lilly and Company has a 52-week low of $434.34 and a 52-week high of $918.50.

Eli Lilly and Company (NYSE:LLY) last released its earnings results on Monday, May 6th. The company reported $2.58 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.05. The company had revenue of $8.77 billion for the quarter, compared to the consensus estimate of $8.94 billion. Eli Lilly and Company had a return on equity of 56.98% and a net margin of 17.08%. Eli Lilly and Company’s quarterly revenue was up 26.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.62 earnings per share. Equities analysts expect that Eli Lilly and Company will post 13.76 earnings per share for the current year.

Eli Lilly and Company Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Stockholders of record on Thursday, August 15th will be given a $1.30 dividend. The ex-dividend date is Thursday, August 15th. This represents a $5.20 annualized dividend and a dividend yield of 0.58%. Eli Lilly and Company’s payout ratio is 76.58%.

Wall Street Analysts Forecast Growth

LLY has been the subject of a number of recent research reports. Bank of America reiterated a “buy” rating and set a $1,000.00 price objective on shares of Eli Lilly and Company in a research note on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on Eli Lilly and Company from $850.00 to $900.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Jefferies Financial Group lifted their target price on Eli Lilly and Company from $994.00 to $1,015.00 and gave the stock a “buy” rating in a report on Monday, June 24th. BMO Capital Markets reissued an “outperform” rating and issued a $1,001.00 target price on shares of Eli Lilly and Company in a report on Wednesday. Finally, Erste Group Bank raised Eli Lilly and Company from a “hold” rating to a “buy” rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $812.72.

Insider Activity

In other news, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the transaction, the chief accounting officer now directly owns 7,130 shares in the company, valued at $5,842,821.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder Lilly Endowment Inc sold 92,563 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $809.21, for a total value of $74,902,905.23. Following the sale, the insider now directly owns 98,556,247 shares in the company, valued at $79,752,700,634.87. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Donald A. Zakrowski sold 750 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $819.47, for a total value of $614,602.50. Following the completion of the sale, the chief accounting officer now owns 7,130 shares in the company, valued at $5,842,821.10. The disclosure for this sale can be found here. Insiders have sold 858,742 shares of company stock worth $735,573,781 over the last ninety days. Corporate insiders own 0.13% of the company’s stock.

Eli Lilly and Company Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.